它是杠杆交易贷款和债券产品的最大持有者，且大多数是在信贷泡沫时期达成的协议。
It is a big holder of "hung" leveraged loans and bonds, mostly related to buy-outs agreed on in the credit bubble.
可能他们认为严格的条款没有必要，首先他们可以在二级市场上交易贷款，这在20年前是不可能的。
Some may reckon that covenants are no longer necessary. First, they can now sell loans in the secondary market, an option that did not exist 20 years ago.
大额贷款很少出现这种问题，因为大额贷款通常被当作商业交易处理，相关条款要用书面形式落实。
Large loans are seldom the issue; they are usually treated as business transactions, with the terms spelled out on paper.
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